Simpler announces bid for reelection as state treasurer

Wednesday

Mar 14, 2018 at 2:45 PMMar 14, 2018 at 3:21 PM

Submitted News

State Treasurer Ken Simpler recently filed to stand for reelection.

“Four years ago, I ran to become your state treasurer for a simple reason: finance matters. That core belief has guided almost all of my actions since taking office. If we want Delaware to excel and make the most of what we can do with the resources that we have, we need to take apart and rebuild the fundamental platforms on which we run our government with a singular focus on creating value,” said Simpler

Simpler has spent his first term improving the operations of the state treasurer's office and bringing sound fiscal stewardship to the various financial boards on which he serves. Notably, he has restructured the state's $2 billion investment portfolio and overhauled the state employees $1 billion retirement savings plan, in each case to enhance performance and lower expenses of platforms that had not seen meaningful reform in 20-35 years. He has also focused on personnel development, reclassifying 75 percent of the positions in the office to increase productivity and better align organizational priorities with personal skills and goals.

In a second term, Simpler will apply the same top-to-bottom review conducted with respect to the investment and retirement platforms to the state’s $10 billion banking architecture and $2 billion debt portfolio. He also plans to advance strategic reforms for the body that forecasts the roughly $4 billion in state revenues and expenditures and the committee that determines nearly $1 billion in health care and other fringe benefits for state employees.

“I want to continue as your state treasurer with the mission of nothing short of a rebuild and reboot of our most fundamental systems. If reelected, I pledge to remain focused on these kinds of reforms,” said Simpler.

Prior to becoming state treasurer, Simpler served as the chief financial officer of Delaware-based Seaboard Hotels and held the position of managing director at Citadel, a $25 billion global investment fund where he oversaw a billion dollar portfolio, managed personnel in Chicago, San Francisco, New York/Greenwich, London and Tokyo and served on the firm’s worldwide investment committee. Simpler has served on the board of directors of Draper Holdings, the parent company of WBOC and Fox 21, and the finance committee of Beebe Healthcare.